The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

GE Capital Provides More Than $3.7 Billion to Telecom, Media and Technology Companies During 2012

<ul> <li class='bwlistitemmargb'> <i>Company ends 2012 among most active lenders to these specialized business sectors</i> </li> <li class='bwlistitemmargb'> <i>GE's investment and experience in software and technology provides value-add to customers</i> </li> </ul>

Monday, February 25, 2013

GE Capital Provides More Than $3.7 Billion to Telecom, Media and Technology Companies During 201208:00 EST Monday, February 25, 2013 NORWALK, Conn. (Business Wire) -- GE Capital's Telecom, Media and Technology (TMT) financing business today announced it completed 58 deals totaling $3.7 billion during 2012. The TMT business addresses the financial needs of customers in key growth sectors, including cable, data centers, towers, metro fiber, TV, digital media and software, among others. “The increase in financings supports the continued M&A revival and growth of these specialized sectors,” said Pete Foley, senior managing director of GE Capital's Telecom, Media and Technology team. “Last year was active for corporate financing as well as private equity-backed transactions. We look forward to supporting the growth of these industries as we begin 2013.” “We are committed to providing more than financial capital to our customers. We help them build stronger businesses by leveraging the depth and breadth of GE's experience, including industrial and technology expertise,” continued Foley. “In 2012, we connected customers to GE's broader domain expertise, exploring new technologies and learning how the industrial and financial sectors can come together to help them solve their toughest challenges.” Below is a brief description of several noteworthy 2012 transactions: JAB Wireless In the fourth quarter of 2012, GE Capital served as administrative agent on a new $140 million credit facility for JAB Wireless, a provider of fixed wireless high-speed internet and VoIP phone service to residential and business subscribers. GE Capital Markets served as lead arranger and administrative agent on the transaction. “Since 2010, GE Capital has provided financing solutions that have enabled our company to more than double our customer base and profitability,” said Jack Koo, COO and CFO of JAB Wireless. “GE Capital's expertise in the telecom industry and the capital markets make it a valued financial resource. The most recent financing has positioned us to strengthen our industry leadership and to continue our growth well into the future.” Hoak Media In May of 2012, GE Capital acted as administrative agent on a $131 million recapitalization for Hoak Media LLC, a highly successful middle market TV broadcaster operating in 13 different markets around the U.S. GE Capital Markets served as sole lead arranger and bookrunner for the deal. “GE Capital has been our lead lender since 2007 and we truly value its deep industry knowledge and insight in the broadcasting space,” commented Eric Van den Branden, president and CEO of Hoak Media. “GE Capital understands the various regulations and industry cycles that are inherent in the TV sector, which has allowed it to be invaluable to the company,” added Jeff Patterson, a partner at Columbia Capital. About GE Capital, Telecom, Media and Technology GE Capital's Telecom, Media and Technology business provides financing to enable corporate growth, acquisitions and balance sheet refinancings to companies in the following industries: cable, towers, data centers, wireless, metro fiber, radio, TV, digital media, education services and software. It also finances technology companies that enable these industries. With Access GE, clients also benefit from access to GE's best practices. Visit gecapital.com/tmt. GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital). GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com. GE Capital, AmericasJennifer Sampson, 312-441-7055Jennifer.sampson1@ge.comorNed Reynolds, 203-229-5717ned.reynolds@ge.com